Pakistan’s liquid foreign reserves fell by $115 million in the week ending April 30, 2022, representing a 0.7 percent drop week on week.According to the SBP weekly report issued on Friday, the country’s total liquid foreign exchange reserves fell by $115 million (-0.7 percent) on April 30, 2022, to $16.553Read More →

Salman Iqbal, the owner of the ARY Group, has emerged as an aspirational investor in the loss-making Summit Bank.After rescinding his proposal to invest in the telecom industry, which eventually ended after lengthy discussions between ARY and WorldCall, the broadcaster has chosen to try his luck in the banking sector.Read More →

During the first 10 months (July-April) of the current fiscal year, 2021-22, the country’s trade imbalance set an all-time high, increasing by 64.79 percent.According to Pakistan Bureau of Statistics figures, the trade imbalance reached $39.264 billion in 2020-21, up from $23.826 billion in the previous year (PBS). According to theRead More →

KARACHI, Pakistan – The Pakistani rupee (PKR) lost 41 paisas versus the US dollar in Thursday’s interbank session, breaking its winning run. According to the statistics, the currency finished the deal at PKR 185.87 per USD, up from PKR 185.45 per USD yesterday. Meanwhile, the local stock market was inRead More →

The National Bank of Pakistan (NBP) Board of Directors met to discuss the bank’s financial performance and approved the condensed interim financial statements for the three months ending March 31, 2022.As the most profitable bank, the National Bank of Pakistan has surpassed United Bank Limited and HBL. As a result,Read More →

As part of the bank’s goal to consolidate its overseas operations and increase its focus on local and lucrative businesses across the country, Habib Bank Limited (HBL) is closing its branch in Lebanon.The bank has started the process of winding down its Lebanon business in a controlled manner. According toRead More →

Despite slow development since February and growth in economic activity fluctuating about 4% for the previous two months, inflationary and external sector risks are generating macroeconomic imbalances in the nation, according to the Ministry of Finance’s Monthly Economic Update & Outlook.Furthermore, economic activity in Pakistan’s major trading partners has beenRead More →